Group Life Assurance Plan
First Assurance offers you a high quality Insurance package for your employees, tailor made to meet your specific needs and at a rate you can afford.
Riders are benefits that complement your plan and offer additional benefits at a relatively low cost. The riders include:
Last Expense (Funeral) Rider
Fast access to finance to meet funeral expenses is very vital to the family that has lost a loved one. The key advantage under this benefit is that the benefit is payable within 48 hours of official notification and satisfactory proof of death.
Critical Illness Rider
This cover prepays 30% of the Sum Assured up to a maximum of the agreed amount under the scheme if the Life Assured suffers from the diseases listed under the policy during the term of the policy.
HIV/AIDS Treatment Rider
This cover provides Anti- Retroviral (ARV) drugs for HIV positive members and their spouses.
It is important to note that First Assurance Group Life policy does not have exclusion on HIV/AIDS deaths or cover restriction for HIV positive members.
Group Disability Rider
If the Life Assured becomes continuously unable to perform their normal occupation due to sickness or injury, First Assurance will pay 75% of the annual pre-disability salary subject to a maximum of KShs. 240,000.00 per year for a period of 24 months.
Permanent Disability Rider
This rider provides for the payment of the full Sum Assured on permanent and total disability of the Life Assured arising out of sickness or injury.
- Benefits range is normally a multiple of 1 to 5 times annual basic salary but can also be based on fixed amounts per staff category
- The employer pays premiums annually.
- Premium based on total sum assured and age of employee
- Policy is not subject to an AIDS Exclusion clause.
- Cover is open to employee aged between 18 to 65 years
- What is the claims turnaround period?
- Final claim benefits are payable within 3 days on satisfactory proof of death, receipt of the required documents and completion of the claim Discharge Voucher. For funeral/ last expense claims, benefits are payable within 48 hour of official notification and satisfactory proof of death
- Is cover restricted to HIV positive members?
- First assurance group life, group mortgage and group credit policies do not have an exclusion on HIV/AIDS deaths or cover restriction to HIV positive members.
- Who decides on the level of cover?
- The amount of the benefit pegged as a multiple of annual basic salary or on fixed amounts per staff category. This amount is dependent on the preference of the client.
- Must the benefit limit be tied to basic salaries of members?
- The amount of the benefit is pegged as a multiple of annual basic salary or on fixed amounts per staff category depending on the preference of the client.
- Who pays for the medical expenses for members required to take a medical examination?"
- First assurance company will cover for any expenses incurred by members sent for medical examinations.
- What is the maximum age limit?"
- Under group life plan, cover is open to employees aged between 18 to 65 years Under group last expense plan, cover is available for persons aged between 1 and 65 years. Cover is also available for children aged between 1 month and 21 years.
- Minimum number of Employees
- Waiting period for marternity
- All bills are settled net of NHIF